Financial Instruments and Fair Value Measurements (Tables)

6 Months Ended

Oct. 30, 2015

The following is a summary of our investments (in millions):

	October 30, 2015									April 24, 2015
	Cost or							Estimated		Cost or						Estimated
	Amortized		Gross Unrealized					Fair		Amortized		Gross Unrealized				Fair
	Cost		Gains		Losses			Value		Cost		Gains		Losses		Value
Corporate bonds	$	1,614	$	3	$	(2	)	$	1,615	$	2,249	$	9	$	—	$	2,258
U.S. Treasury and government debt securities		927		1		(1	)		927		1,056		2		—		1,058
Foreign government debt securities		44		—		—			44		38		—		—		38
Commercial paper		44		—		—			44		20		—		—		20
Certificates of deposit		109		—		—			109		286		—		—		286
Mutual funds		34		—		—			34		32		—		—		32
Total debt and equity securities	$	2,772	$	4	$	(3	)	$	2,773	$	3,681	$	11	$	—	$	3,692

The following table presents the contractual maturities of our debt investments as of October 30, 2015 (in millions):

	Amortized Cost		Fair Value
Due in one year or less	$	867	$	868
Due after one year through five years		1,871		1,871
	$	2,738	$	2,739

The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis (in millions):

	October 30, 2015
				Fair Value Measurements at Reporting Date Using
	Total			Level 1		Level 2
Cash	$	2,075		$	2,075	$	—
Corporate bonds		1,615			—		1,615
U.S. Treasury and government debt securities		927			175		752
Foreign government debt securities		44			—		44
Commercial paper		44			—		44
Certificates of deposit		109			—		109
Total cash, cash equivalents and short-term investments	$	4,814		$	2,250	$	2,564
Other items:
Mutual funds ⁽¹⁾	$	7		$	7	$	—
Mutual funds ⁽²⁾	$	27		$	27	$	—
Foreign currency exchange contracts assets ⁽¹⁾	$	5		$	—	$	5
Long-term debt	$	(1,489	)	$	—	$	(1,489	)

⁽¹⁾	Reported as other current assets in the condensed consolidated balance sheets

⁽²⁾	Reported as other non-current assets in the condensed consolidated balance sheets